Wayfair (W) Shares Gap Up After Insider Buying Activity

Shares of Wayfair Inc (NYSE:W) gapped up before the market opened on Wednesday following insider buying activity. The stock had previously closed at $82.37, but opened at $84.55. Wayfair shares last traded at $88.16, with a volume of 3002212 shares changing hands.

Specifically, insider Edmond Macri sold 600 shares of Wayfair stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $80.94, for a total transaction of $48,564.00. Following the transaction, the insider now directly owns 500 shares of the company’s stock, valued at $40,470. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Niraj Shah sold 17,000 shares of Wayfair stock in a transaction on Monday, August 27th. The stock was sold at an average price of $128.91, for a total transaction of $2,191,470.00. Following the transaction, the chief executive officer now directly owns 89,703 shares in the company, valued at $11,563,613.73. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 409,169 shares of company stock worth $55,030,960. Insiders own 37.75% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. William Blair reissued a “market perform” rating on shares of Wayfair in a research report on Monday, November 5th. Wedbush cut their price objective on shares of Wayfair from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 6th. JPMorgan Chase & Co. cut their price objective on shares of Wayfair from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Friday, November 2nd. Citigroup cut their price objective on shares of Wayfair from $140.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, November 2nd. Finally, Canaccord Genuity cut their price objective on shares of Wayfair from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $126.06.

The company has a market cap of $7.64 billion, a PE ratio of -31.49 and a beta of 1.84.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, November 1st. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.19). The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the firm earned ($0.65) EPS. The company’s revenue was up 42.4% on a year-over-year basis. Equities analysts expect that Wayfair Inc will post -5.64 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. JS Capital Management LLC acquired a new position in shares of Wayfair during the 3rd quarter worth about $103,000. Cornerstone Wealth Management LLC acquired a new position in shares of Wayfair during the 3rd quarter worth about $150,000. Wedbush Securities Inc. acquired a new position in shares of Wayfair during the 3rd quarter worth about $207,000. Engineers Gate Manager LP acquired a new position in shares of Wayfair during the 2nd quarter worth about $208,000. Finally, Peregrine Asset Advisers Inc. acquired a new position in shares of Wayfair during the 2nd quarter worth about $214,000. Hedge funds and other institutional investors own 70.89% of the company’s stock.

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Wayfair Company Profile (NYSE:W)

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.

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